The Economy and Philanthropy

To help South Florida funders during these challenging times, Donors Forum has developed the following resource list related to the economy and philanthropy.   We welcome your suggestions of resources to add that you believe will be useful to the funding community. Contact Amanda Kah with your suggestions.

FY 2010 County Budgets

Recent Articles on County Budgets and Their Effects on Nonprofits

"Miami-Dade County Cultural Groups Await Details of Budget Cuts" The Miami Herald, September 27, 2009

"Miami-Dade Faces Uphill Budget Battle with Labor Unions" The Miami Herald, September 27, 2009

"Cultural Development Fund Is Returned to the [Palm Beach] County Budget" Palm Beach County Cultural Council, September 23, 2009

"Miami to Hold Budget Hearing Thursday, but No Vote is Expected" The Miami Herald, September 23, 2009

"Emerging Cultural Group Grants Preserved, but Smaller, in Palm Beach County Budget" Palm Beach Daily News, September 22, 2009

"Broward Budget Plan: Less Money for Arts, Parks but No County Tax Hike" Sun-Sentinel, September 22, 2009

"Palm Beach County Commissioners Raise Tax Rate Nearly 15 Percent" The Palm Beach Post , September 21, 2009

"Broward Commission Budget Cuts Sheriff's office: Broward commissioners approved a flat tax rate that will lead to cuts at the sheriff's office and parks and libraries" The Miami Herald, September 11, 2009

"Miami-Dade Commissioners Face Task of Filling Budget Gap" The Miami Herald, September 6, 2009

Learn about the proposed Fiscal Year 2010 budgets for each South Florida county and the impact on nonprofits (as of August 9, 2009).

The Federal Stimulus

Donors Forum has designed a Stimulus Resource Webpage with federal, state, and local resources as well as a list of local contacts.

Funder and Nonprofit Economy Surveys

South Florida Funder Survey Results Summary

Nonprofit Survey Results (Broward, Miami-Dade and Monroe Counties)

Community Fdn. of Palm Beach and Martin Counties' Nonprofit Survey

South Florida Responses to the Economy

United Way of Broward County has embarked on a three-month fundraising drive called Project Lifeline. By encouraging donations as small as five dollars, the organization hopes to raise $1 million for short-term emergency relief for families and individuals in Broward County who are struggling with basic needs: emergency food, rent, and utilities.

United Way of Palm Beach County has partnered with neighboring United Ways – in Martin, St. Lucie, Indian River and Okeechobee Counties -- as well as media partners WPTV NewsChannel 5 and Clear Channel Radio, for a fund-raising campaign called Give $5 Now. Give $5 Now asks residents to donate five dollars and to ask five of their friends to do the same. Money raised will go to local nonprofits funded by United Way to help meet today’s tremendous demand for services.

Economic Resource Hubs

Economic XChange 

A new web-based platform launched by Council on Foundations where members of the philanthropic sector can exchange information, dialogue, ideas, and tactics around the economic crisis and its impact on Philanthropy. The site contains numerous resources for corporate, family, and private/independent funders.

Focus on the Economic Crisis

Foundation Center's online resource includes a wide variety of internet resources, research, commentary, and training materials to help foundations navigate the economic downturn.

Special Report: How Charities Cope with a Troubled Economy
The Chronicle of Philanthropy has compiled resources on how nonprofits deal with turbulent times. Includes recent stories, reports, podcasts, and statistics.

Family Foundations

Giving in Tough Times
Family Giving News issue dedicated to how your family foundation or fund can help struggling nonprofits and weather an economic downturn while still making a difference.

Families Respond to Difficult Economic Times
In the October Message of National Center for Family Philanthropy (NCFP, President Virginia M. Esposito explains that NCFP is working on a special edition of Passages, interviewing members and gathering anecdotes on how family foundations are dealing with the current economy.

Corporate Funders

Corporate Giving in a Tough Economy: 5 Reasons Why

Amid Turmoil, Corporations to Maintain Giving in 2009
With corporate grantmakers receiving more requests for help, Financial Week features three large corporate foundations who have publically announced that 2009 giving would likely remain steady.

Survey Finds Practitioners Optimistic Despite Downturn
Does the current economic downturn spell the end of corporate citizenship? Just the opposite, says the Center for Corporate Citizenship's recent survey.

Consumers Expect Companies to Keep Giving in Hard Times
The Chronicle of Philanthropy summarizes a new survey on consumer expectations during a poor economy.

Corporate Citizenship Meets the Financial Meltdown: Threat or Opportunity?
This blog comments on the current economic climate and encourages an active dialogue in the business community.

Corporate Donors Adjust to Economic Slump
Philanthropy Journal offers a nonprofit perspective on the effects the current economy will have on corporate giving.

Is This the Time For Companies to Be Philanthropic?
Chicago–based philanthropy advisors, Strategic Philanthropy, make the case for corporate philanthropy during a poor economy.

Community Foundations

Making Informed Decisions in Uncertain Times [PDF]
Results of a study on the impact of the economic downturn on community foundations, including information on grantmaking, spending policies, budget implications and ways to communicate with stakeholders.

How to Handle Underwater Funds 

Financial/Investment

Staying Calm When the Market Goes Wild, and This Crisis Is Not on Par with 1929 - resources from MFS Investment Management

Volatility, the Markets and You

World–class strategists and industry leaders share unique insights and potential investment strategies to help investors understand and deal with the market's recent turbulence—and prepare for the recovery to come. The November 10th, video, audio and transcript are available for download.

Grantmaking

Giving during recessions and economic slowdowns  

The Center on Philanthropy at Indiana University analyzes four decades in their report on how recessions and economic slowdowns affect giving.

TPI: Staying Strategic in the Face of Uncertainty

Bill Zlatos, “Foundations Tackle Financial Meltdown,” Pittsburgh Tribune-Review, 10/20/08

Rick Armon, “Foundations Pinched by Markets Expect to Give Less,” Akron Beacon Journal, 10/11/08

Giving in a Time of Less
Find advice for funders about how to give in a time of shrinking resources from Wise Philanthropy.

AFP Magazine's article "What Do Stock Market Fluctuations Mean for Giving?"

Foundations Support Families Hit by Economic Downturn
Find out how foundations are responding to the economic downturn and subprime mortgage crisis and how they anticipate these events might affect their grantmaking from a Council on Foundations survey.

A Year of Slower Growth
 Chronicle of Philanthropy article detailing the economy's impact on foundation assets and giving, but also how foundations are responding by trying new ventures.

Ralph Smith and Steve Gunderson, “Grant Makers Urged to Respond to Financial Crisis,” The Chronicle of Philanthropy, 10/13/08

What the Council on Foundations Should Have Said to Its Members
The editors of The Nonprofit Quarterly take an editing pen and rewrite the Council on Foundation's Open Letter to members and colleagues.

Internal Operations

Managing in Tough Times: 7 Steps - There are steps you can take to help your organization weather the current economic storm. Learn what others in the field are considering as they make plans for the future.

A to Z Survival Guide for Uncertain Times - Michael Seltzer, a regular contributor to PhilanTopic, has compiled his past writings and strategy recommendations learned from grantees, clients, and fellow consultants.

How Donors Forum of Illinois Partners Are Dealing with Economic Uncertainty
Find sample grantmaker experiences during the anticipated economic downturn and the steps they are taking to cope with them.

Grantmakers for Effective Organizations puts forth its advice for grantmakers to consider when determining their response to the crisis.

Strategies for Foundations to Save Resources
Financial Times article (U.K.) addresses ways to cope with dwindling resources and continue to support the causes and institutions you care about.

Nonprofit Capacity Building

Changing Times Call For Foundations To Try New, Innovative Approaches To Sustain Nonprofits

Larry Ottinger, “Lessons for Charities Amid the Financial Crisis,” The Chronicle of Philanthropy, 10/16/08 (subscription required)

On the Money, Grantmakers for Effective Organizations's publication that raises timely questions about nonprofit finance and the threat that undercapitalization poses to sustainability.